Skanska to construct highway in Virginia for USD 35.4 M

3/24/2000 12:00 PM CET

Press release

Skanska’s US subsidiary Tidewater Skanska has been awarded a contract to build the Southwest Bypass link between US 13 and US 58 near Suffolk, Virginia. The order is valued at USD 35.4 M, about SEK 300 M. The client is the Virginia Department of Transportation (VDOT). Construction is expected to start in early may and finish by October 2002.

PRESS RELEASE

March 24, 2000

Skanska to construct highway in Virginia for USD 35.4 M, SEK 300 M
Skanska’s US subsidiary Tidewater Skanska has been awarded a contract to build the Southwest Bypass link between US 13 and US 58 near Suffolk, Virginia.The order is valued at USD 35.4 M, about SEK 300 M. The client is the Virginia Department of Transportation (VDOT).
The long awaited project will have regional as well as local benefits. It will boost the region economy and will bring highway access to property for industrial development. More than 700 trucks a day will be diverted from downtown Suffolk streets that weren’t designed for heavy traffic.
Construction is expected to start in early may and finish by October 2002. The 2.7-mile road will have 13 bridges and will cross sensitive wetland habitat near the Great Dismal Swamp National Wildlife Refuge. Protection of the fragile habitat is being given high priority.
The infrastructure market in the US is increasing as a result of the TEA 21 development program. Skanska’s documented expertise in this area has now resulted in two other major contracts. Tidewater Skanska was assigned to design and construct an Expressway in South Carolina. Skanska's share of the USD 232 M order is 35 percent. In addition, Slattery Skanska and Koch Skanska recently received a highway contract in New York valued at USD 228 M. In total, Skanska has now landed new highway projects for a total of USD 344 M during the past week.
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For further information please contact:
Edward Keeter, Vice President Administration, Tidewater Skanska Group, Tel +1 757-578-4100